Ramba starts analyzing Akatara-1 well
Monday, March 4 2013 - 03:14 AM WIB
SGX-listed Ramba Energy Limited said that the drilling of the Akatara-1 exploration well in Lemang Block, South Sumatra, reached a total depth of 6,400 feet on Friday (1st March 2013) and had commenced logging and analysis.
The company said in a press statement over the weekend that Ramba holds 51 percent working interest in Lemang Block through PT Hexindo Gemilang Jaya, its local subsidiary.
Oil and gas exploration is an expensive, high risk operation. Shareholders are therefore asked to exercise caution when dealing in shares of the Company, and should consult their legal, financial tax and other professional advisers if they have any doubt as to the action to take.
The Company will make further announcements to inform shareholders of any updates or developments on the Akatara-1 well.
Editing by Benget Besalicto Tnb.